The 2013 Federal and BC Budgets contained a treasure trove of substantive tax changes. This session will review the more significant budget proposals, other recent legislative changes, and federal and provincial administrative developments that have an impact on individuals and small and medium-sized private businesses.

The reintroduction of a provincial sales tax in BC and the repeal of the harmonized sales tax may have made Bill Vander Zalm happy, but many individuals and businesses are encountering surprises and falling into traps that were not expected. This session will review the significant changes and transitional issues faced by taxpayers arising from some of the new features of the old tax.

The fact that Canada and Hong Kong have negotiated a tax treaty might be seen as surprising. However, it is consistent with Canada's desire to gain greater access to information that can be obtained through the exchange-of-information provisions that are included in treaties. This session will examine the tax-planning opportunities that arise from this new treaty and the possible consequences of more robust information exchanges between the two governments.

Family Law Changes and the Implications for Trust and Estate Tax Planning

BC's Family Law Act is now fully in effect. This topic will discuss the impact on family and estate planning. While the panel will not focus on changes in other provinces, lessons learned in BC will be helpful to practitioners and their clients across Canada.

In tax planning it is often not easy to have your cake and eat it too. Often one taxpayer has to sacrifice so another can enjoy a benefit. The session will examine whether, through proper structuring of the disposition of shares of a company as a hybrid sale of assets and shares, the purchaser and the vendor can both have a cake and eat it.

Dave Rickards, Grant Thornton LLP, Vancouver

5:05 pm -
5:15 pm

Questions

5:15 pm -
7:15 pm

Evening Reception

Tuesday, September 24, 2013

7:30 am

Registration Desk Opens

7:30 am -
8:30 am

Breakfast

Hosted by

8:30 am -
9:15 am

Strategies for Dealing Effectively and Efficiently with CRA Audit Issues and Challenges

Disagreements frequently arise with CRA Audit concerning documentation, findings of fact, interpretation of the Income Tax Act, corporate, partnership or trust laws, and even the timing of income or expense reporting. This panel will discuss ways to resolve these disputes with Audit or Appeals, in an effort to minimize the number of disputes that head toward the Tax Court.

This session will provide an update on the integration of the ever-changing tax rates as they are applicable to individuals, corporations, and trusts in BC. The synthesis of these rates is then applied to the concept of integration in order to see how these tax rates can affect taxpayers’ decisions on how and through which kind of vehicle to earn income.

Traditional Canadian estate planning can be ineffective and punitive for participants if they are currently or will be in the future US citizens or US permanent residents. This session will examine the issues that will be faced if a US taxpayer is involved in a traditional Canadian estate plan and steps that can be taken to avoid some of the onerous tax consequences and compliance burdens that arise.

The session will review the application of subsection 75(2) in light of the decision in the Sommerer case, recent budget changes, and the CRA’s evolving interpretation of the subsection. In addition, taxpayers and their advisors are finding that the interaction of subsection 75(2) with the trust property rollover rules in subsections 107(4) and 107(4.1) are proving too problematic in some circumstances. This session will review the interaction of these provisions and the steps that can be taken to achieve their intended application.

As a result of very low interest rates, the use of prescribed rate loans to split income is becoming very attractive. This session will also review the more significant attribution rules found within the Income Tax Act and discuss how to avoid their application and certain other issues relevant to these rules. Recent cases that have considered the application of GAAR to planning in connection with application of the attribution rules will also be considered.

David Thompson, Thorsteinssons LLP, Vancouver

12:00 pm -
12:15 pm

Questions

12:15 pm -
1:30pm

Lunch

Sponsored by

1:30 pm -
2:05 pm

Pre- and Post-Mortem Planning for Charitable Giving

High-wealth individuals often make their largest charitable donations at or near their death and directly or through their will and estate plans. This session will discuss ways to ensure that tax credits are maximized and not denied.

Blake Bromley, Benefic Group Inc., Vancouver

2:05 pm -
2:40 pm

Surplus Stripping- Defining the Acceptable Boundaries

Discussion of the views of practitioners, the CRA, Finance, and the courts on the extraction of surplus from corporations. Given the recent direction of the Federal Court of Appeal in MacDonald, are there still planning opportunities?

Defining the Boundaries of Acceptable Tax Planning in the Face of Increased Public Scrutiny

Recent coverage in the media has focused on the morality of the planning activities of certain multinational enterprises. The OECD has entered the debate with its discussion paper on Base Erosion and Profit Shifting. Even though the attention of the media and government seems to be on large business, it is clear that the planning activities of high net worth individuals and private business are of great interest to the tax authorities. This session will discuss the acceptable limits of tax planning in the context of high net worth individuals and private business. Panelists will debate and provide their personal perspectives on the acceptable boundaries, and retired CRA personnel will outline hot buttons for tax authorities.

Conference Materials (papers and powerpoint presentations) will be posted on the CTF web site and Conference App prior to the conference. The conference registration fee includes electronic access to these materials; the registration fee does not include a printed copy of the materials.

If you would like to receive a Conference Binder, please select this option when registering; you will be charged an additional $50.00 to cover the cost of the binder.

Sharing a single registration between two or more individuals is not permitted. Access to conference meetings, meal functions, and related events will be limited to registrants wearing valid name badges.

Cancellation

If you are unable to attend the conference, registration may be transferred to one other individual. Please submit the name of the substituted delegate to Robyn Corrigan at rcorrigan@ctf.ca up to three business days prior to the start of the conference. After that, the substitution will be accepted only at the conference site. If substitution is not an option, written notice of cancellation will be accepted by the Conference Department Monday, September 16, 2013. Individuals who cancel their registration prior to this deadline will receive a refund, less a $100 administration fee, at the conclusion of the conference. We regret that we cannot issue refunds for notices of cancellation received after this deadline.